The Nigerian Ports Authority (NPA) has proposed and defended a budget of N202 billion it intends to spend for the coming year 2020.
NPA Managing Director, Hadiza Bala Usman, while defending the budget before the House of Representatives Committee on Ports and Harbours, in Abuja, said the agency is earmarking a total of N108.94 billion for capital projects in 2020.
She noted that capital projects would gulp N108.94 billion, while N93.64 billion will go for operating expenses.
In the current financial year, she said the Authority is targeting revenue of about N276.75 billion from its operations.
NPA’s total expenditure for 2019 is estimated at N229.91billion, made up of N110.71 billion for operating expenses; N52.13 billion for overhead costs; N58.8 billion for pension cost and N119.21 billion for capital expenditure.
She also said NPA plans to remit about N20.62 billion into the Consolidated Revenue Fund (CRF) from its projected 2019 operating surplus of N25.77 billion.
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